STR: Q3 2017 Central/South America hotel performance
 
STR: Q3 2017 Central/South America hotel performance
20 OCTOBER 2017 8:51 AM

The Central/South America region reported occupancy rose 2.3% year over year to 57.9% during Q3 2017. ADR, however, dropped 8.4% to $100.36 and RevPAR declined 6.3% to $58.14.

LONDON—Hotels in the Central/South America region reported mixed year-over-year results in the three key performance metrics during Q3 2017, according to data from STR.

U.S. dollar constant currency, Q3 2017 vs. Q3 2016

Central/South America

  • Occupancy: +2.3% to 57.9%
  • Average daily rate (ADR): -8.4% to US$100.36
  • Revenue per available room (RevPAR): -6.3% to US$58.14

Local currency, Q3 2017 vs. Q3 2016

Argentina

  • Occupancy: +10.1% to 62.6%
  • ADR: +19.4% to ARS1,886.76
  • RevPAR: +31.4 to ARS1,180.57

Demand (roomnights sold) grew 10.1% year over year, pushing occupancy to its highest level for a Q3 in Argentina since 2011. At the market level, Buenos Aires posted a 31.5% increase in RevPAR, due to double-digit growth in both occupancy and ADR. STR analysts note that convention center calendars were quite full in September. The market also played host to an ITF tennis tournament (11-17 September) and a rugby match with New Zealand (30 September).

Chile

  • Occupancy: +6.5% to 68.6%
  • ADR: -1.1% to CLP74,127.71
  • RevPAR: +5.3% to CLP50,872.16

This marked Chile’s highest Q3 occupancy level since 2008. STR analysts note that the country’s hotel demand has grown steadily since the end of 2015, while ADR has gradually decreased since Q2 2016. In its latest Forecast for Chile, Oxford Economics noted that improved activity in the country seems to have extended into Q3. While outlooks remain cautious, consumer spending momentum is likely to continue into 2018.

Colombia

  • Occupancy: +1.6% to 59.2%
  • ADR: +0.4% to COP255,624.52
  • RevPAR: +2.0% to COP151,418.29

After a weak first half of the year, Colombian hotels experienced 4.1% uplift in demand in Q3. This was mainly the result of stronger performance in July and August, as September results were negative. Pope Francis’ visit to Bogotá in September drove the Colombian capital’s RevPAR up 35.6% on Saturday, 9 September.

Download the September 2017 global hotel review here.

International Media Contacts:

Alex Anstett
Media & Communications Coordinator
aanstett@str.com
+44 (0)207 922 1979

Naureen Ahmed
Director of Marketing, Research & Analysis
media@str.com
+44 (0)207 922 1965

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